Facebook boss Zuckerberg to sell shares for charity efforts

Deepak, 25/09/2017

Washington: Facebook founder Mark Zuckerberg has said he will sell a large number of his company's shares that could raise up to USD 12 billion that he intends to use to fund philanthropic efforts in health and education.

Zuckerberg said he plans to sell 35 million to 75 million shares - worth up to USD 12 billion at current prices - over the next 18 months for philanthropy.

He said because Facebook is now so valuable, he can sell a smaller allotment of his stake in the company to contribute capital to his charity initiatives to help eradicate diseases and provide education to all children.

"Over the past year-and-a-half, Facebook's business has performed well and the value of our stock has grown to the point that I can fully fund our philanthropy and retain voting control of Facebook for 20 years or more," Zuckerberg wrote in a Facebook post.

Leave Your Thought

More Stories in Technology

When companies need complete control over their dedicated server provider, from the kind of hardware that their host server runs on to the fine-grained choice of the OS and application stack, they turn to CtrlS. We are the innovator in Cloud services in India, with the distinction of building Asia's first Tier 4 Datacenter and India's

Realme 2 Pro, the following model from the place of Realme, is set to make a big appearance on September 27. Be that as it may, in front of its formal dispatch, the cell phone has now been prodded in an official video.

The app, founded in 2014 and bought by Twitter Inc in 2015, is hiking payments to its users at a time when it faces more competition in live-streaming video, including from Google`s YouTube, Facebook and Instagram.

About Us

Karsoo is a charticle and listicle stage devoted to communicating and exploring lovely stories. We are the "YouTube of substance industry". With more than 18 categories to investigate, karsoo is a media stage about viral substance, being first and extremely fast!